StatsCan calling for big jump in canola acres, smaller wheat planted area

Analysts surveyed by Reuters did a pretty good job anticipating Statistics Canada’s planted acreage adjustments. StatsCan now estimates Canadian farmers will plant 23.36 million acres to all wheat, a 100,000-acre boost from spring intentions but a 6.5% slide from last season. Durum acres at 5.53 million would be 2.8% under year-ago and spring wheat plantings at 16.48 million would be down 8.1% from 2020-21.

Oilseed plantings are expected to climb amid rising global demand for oilseeds and this year’s strong price gains. A number of companies have announced plans to construct oilseed processing plants in or near Canada. Strong demand paired with tight ending stocks shot canola prices to record-highs the first half of 2021, comments MarketsFarm Editor Mike Jubinville, who adds prices are expected to remain elevated for the coming year. Consequently, producers have signaled they seeded 22.48 million acres to canola this year, nearly a 1-million-acre jump from April intentions and an 8.2% rise from last season. Soybean plantings are expected to climb 4.9% to 5.32 million acres amid strong prices and demand.

Barley acreage is expected to jump 9.7% to 8.30 million acres amid strong demand for the grain. That represented a 317,000-acre decline from April whereas analysts were anticipating an increase.

StatsCan reports dry conditions were a concern for farmers in parts of western Canada throughout seeding and into the start of the growing season, though dry conditions did help planting to advance quickly.